Required information [The following information applies to the questions displayed below.] Watercraft's predetermined overhead rate is 200% of direct labor. Information on the company's production activities during May follows. a. Purchased raw materials on credit, $240,000. b. Materials requisitions record use of the following materials for the month. Job 136 Job 137 Job 138 Job 139 $ 49,000 32,500 19,200 22,800 Job 140 7,200 Total direct 130,700 materials Indirect materials 21,500 $ 152,200 Total materials requisitions c. Time tickets record use of the following labor for the month. These wages were paid in cash. Job 136 Job 137 $ 12,200 10,600 Job 138 38,100 Job 139 39,400 Job 140 3,200 Total direct 103,500 labor Indirect labor 25,500 $ Total labor cost 129,000 d. Applied overhead to Jobs 136, 138, and 139. e. Transferred Jobs 136, 138, and 139 to Finished Goods Inventory. f. Sold Jobs 136 and 138 on credit at a total price of $535,000. g. Recorded the cost of goods sold for Jobs 136 and 138. h. Incurred the following actual other overhead costs during the month. Depreciation of factory $ building 70,000 Depreciation of factory 37,500 equipment Expired factory insurance 10,000 Accrued property taxes 35,500 payable i. Applied overhead at month-end to the Work in Process Inventory account (for Job 137 and 140) using the predetermined overhead rate of 200% of direct labor cost.